C2FO, a Kansas City, Mo.-based market for working capital, completed a $200M funding round.
The round was led by the SoftBank Vision Fund with participation from existing investors Temasek and Union Square Ventures. Following the investment, Nahoko Hoshino will join the C2FO board of directors on behalf of SoftBank Investment Advisers.
The company intends to use the funds to accelerate the development of new markets to further improve access to working capital for companies globally not just large multinational corporations, but also small and medium-sized enterprises.
Led by Sandy Kemper, Founder and Chief Executive Officer, C2FO is an online marketplace to source working capital. Utilizing proprietary algorithms, the company creates a match between accounts receivable and accounts payable to dynamically price the value for early payment in real time.
More than 300,000 businesses across 173 countries utilize the system to take control of their cash flow and receive more than $1 billion in funding every week.